Chicago Economic Activity Surprises with ISM Sharp Jump into Growth in November

The Chicago Business Barometer or Chicago PMI jumped unexpectantly to 55.8 in November well above consensus 45.0 and up from 44.0 in October. The latest data was the first month of growth in Chicago’s economic activity since August 2022 which had seen a contraction in business activity in the Chicago region until this month. Below the 50 threshold indicates economic contraction. The surprise came as high interest rates and inflation had continued to drag down the US manufacturing sector, however … Continue reading “Chicago Economic Activity Surprises with ISM Sharp Jump into Growth in November”

Chicago Economic Activity Improves in August but Still in Contraction ISM PMI Shows

High interest rates and inflation continue to drag down the US manufacturing sector, however we have seen some improvement. The Chicago Business Barometer or Chicago PMI rose to 48.7 in August of 2023 from 42.8 in July, and well above market forecasts of 44.1. The reading marked the 13th consecutive month of contraction in business activity in the Chicago region but the smallest in the current sequence that began in September 2022. Below the 50 threshold indicates economic contraction. The … Continue reading “Chicago Economic Activity Improves in August but Still in Contraction ISM PMI Shows”

Chicago Economic Activity Contracts for Seventh Straight Month in March

The Chicago Business Barometer or Chicago PMI eked out a gain to 43.8 in March of 2023 from 43.6 in January. High interest rates and inflation continue to drag down the US manufacturing sector. Figures came in higher than market forecasts of consensus 42.5, pointing to some balancing of economic activity in the Chicago region, which extended for a seventh straight month below the 50 threshold indicates economic contraction. The Chicago PMI is the last of the regional manufacturing indices … Continue reading “Chicago Economic Activity Contracts for Seventh Straight Month in March”

Chicago Economic Activity Contracts Further ISM PMI Shows in February

High interest rates and inflation continue to drag down the US manufacturing sector. The Chicago Business Barometer or Chicago PMI fell for a second consecutive month to 43.6 in February of 2023 from 44.3 in January. Figures came in lower than market forecasts of 45, pointing to another contraction in economic activity in the Chicago region, which extended for a sixth straight month. Below the 50 threshold indicates economic contraction. The Chicago PMI is the last of the regional manufacturing … Continue reading “Chicago Economic Activity Contracts Further ISM PMI Shows in February”